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Japan Average Wages Rise - Nasdaq.com

The rise marked the 11th straight year-on-year gain, the longest stretch since 1992. The nation has been mired in deflation and economic stagnation since the economic bubble burst around 1990. After adjustment for inflation, however, wages actually declined 1.5% on year, meaning that wage increases are not keeping up with prices, the labor ministry figures released Tuesday showed. Still, the size of decline was the smallest since March, reflecting both nominal wage gains and lower inflation as a result of recent sharp falls in oil prices . Last year real wages declined an average 2.5%, weakening consumption and helping push the http://angeljzbb.skyrock.com economy into a brief recession. Increases in nominal wages were outweighed by higher consumer prices following the first sales tax increase in 17 years in April. Prime Minister Shinzo Abe hopes his economic revival http://littlecayv.hazblog.com plan, known as Abenomics, and sustained pay increases will eventually restore consumer confidence and reignite Japan's private consumption, putting Japan on a path of self- sustaining economic growth. Read more: http://www.nasdaq.com/article/japan-average-wages-rise-20150302-01774